Verifone offers 'net commerce

Published on September 12, 1995.

Verifone, a leading provider of electronic credit-card transaction software, on Monday said it would offer a software system for processing transactions on the Internet. The system, called Payment Transaction Application Layer, includes four components: payment software and an encryption device, both of which reside on a consumer's computer; and merchant software to conduct the transaction and facilitate connection of the merchant's in-house computer system with the Internet. The system, compatible with the standards proposed by MasterCard International and Visa International, will be available in the first half of next year, Verifone said.